Supreme Court affirms IST’s jurisdiction on capital market disputes
Supreme Court

Nigeria’s Supreme Court has nullified President Muhammadu Buhari’s executive order 10, which he had signed on on May 22, granting financial autonomy to the legislature and the judiciary in the 36 states of the federation.

The order empowers the accountant-general of the federation to deduct funds for the state legislature and the judiciary from the federation allocations to the states.

However, all the 36 states through their attorneys-general filed a suit on September 17, 2020, contending the constitutionality of the executive order.

The plaintiffs said with the executive order, the federal government’s responsibility of funding capital and recurrent expenditures of state high courts, sharia court of appeal and customary court of appeal has been pushed to the state governments.

In a split decision on Friday, the majority of the court’s seven-member panel agreed that the president exceeded his constitutional powers in issuing the EO10.

Six out of the seven members of the panel proceeded to void and set aside the EO10.


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